TeamTalk half year profit up 20%
Media Release | 13.02.08Managing Director David Ware said the profit after tax for the first half of the 2007/8 financial year was up 20% to $1.82m compared with the same period last year.
Mr Ware said this increase can be attributed to TeamTalk’s high speed broadband subsidiary CityLink performing better than anticipated.
“We’ve owned a controlling stake in CityLink for 12 months now and I’m pleased to report that the company has exceeded our expectations and the previous guidance we gave to the market”.
"The mobile radio business just keeps trucking along doing exactly what it’s always done - generate strong cash flow."
Mr Ware said the result reaffirms the company's decision to move beyond being a simple mobile radio network operator into a provider of profitable niche telecommunications services.
"There is no question that there are extensive opportunities in the current telecommunications environment," he said.
The company is predicting a full year profit after tax of $3.7m.
ENDS
For further information please contact:
David Ware
Managing Director TeamTalk
Ph 0800 101 900
